So, I bought a house in the spring of 2019, did a full rehab inside the house but not the outside yet. My question is from a tax standpoint. Do I write off the money I put into the house in my 2019 taxes or do I wait ...
I have a couple of relatively stupid questions. I have a feeling that I know the right answers, but in this business its not about "feelings", it's about facts. Please correct me if any of my statements are erroneous....
A friend of mine and I are trying to start flipping houses in our local area. We are each contributing 50% of the money and have already decided to split the profits 50/50 as long as the workloads seem remotely equ...
Just a simple question about tracking business mileage. I have four rentals that I plow when it snows. I also have a job. I drive 3 miles to my job, work, and then after work go plow my properties. I drive 10 mile...
Is there any program, bank, private lender would do refinancing on primary residence without income verification?my debt is $500K, current market value $1.4M, so equity is $900K…Any advice is appreciated Rizki
I hear and have read a lot about seller financing from the buyers side. My big question is if I sell a house I own outright and want to sell it with seller financing what are my tax liabilities. I know I have to decla...
I have a question on the tax issues when it comes to flipping. If one buys and sells homes using their personal names, and say there is a profit of $50K on house 1, and a loss of $20K on house 2, can we offset them an...
Hi all, I would like to get some opinions from people who may have had a similar experience.I hired a general contractor to work on a $30,000 rehab job. $15,000 was provided upfront as part of 203K loan. He did abou...
Looking for some advice. I have always worked as a duo with my dad in real estate investing. I would handle the business and funding side (with his money) and he would take care of the rehab and estimated costs for th...
A few month ago, I was going to buy a move-in ready rental property with the help of my parents lending me $10,000, but 2 different lenders said I could not use gift money due to the government guidelines. (Money can'...